Art101 would rather have 0 ETH with a completely minted contract than 25 ETH with 15% of the supply coined. So here’s the deal: we’ve returned over 60,000 USD to all BASED VITALIK minters. Minting will be closed from Monday, August 28th to Tuesday, August 29th. We will reopen BASED VITALIK as a free-to-mint NFT on February 28th, 2022, at 8:00 p.m. PST at https://basedvitalik.io.
You can see what has already been minted on our official collection page on OpenSea: https://opensea.io/collection/basedvitalik.
That is accurate. If you created a BASED VITALIK, your ETH has been refunded. You have not, however, if you sold on OpenSea. (Because no one ever sold their immaculate item for less than their pristine price.) As a token of appreciation, customers who purchased a BASED VITALIK NFT on secondary markets will get an airdrop.
The minting procedure is complete. BASED VITALIK will reopen for minting on February 28th at 8 PM PST for 0.00 ETH per mint.
BASD VITALIK’s remaining supply is at 4,349, with 613 already minted and 600 exposed. The contract is ERC-721A compliant, bulk mining is affordable, and there is a token limit of 30 per TX. It ought to be pleasurable. The unveiling will occur 72 hours after the coins are struck.
Let’s face it: Art101 chose the earliest feasible mint date for BASED VITALIK. This week saw the creation of Invisible Friends, Starcatchers, 3Landers, and Wonderpals. As a result, the media frenzy drowned us out. Minting required an extended period, and page views were few.
Art101 does not want to leave anybody out of pocket, especially those of you who came out to show your support. It’s quite OK for us not to be hype lords. To us, manufacturing NFTs is more vital than stacking ETH. And to demonstrate our commitment, we just refunded $65,000 USD. “The goal is not to live indefinitely; it is to construct something that will,” Warhol remarked.
That is how it started and how it will continue. So, you may be asking, what’s next? There will be more complimentary drops. Following that, R. Mutt will be featured, followed by other freebies. As previously mentioned, our only objective is to generate NFTs. The market will determine the remaining.
VITALIK Creator ART101 puts community over profits, gives refund, and moves NFT to free-to-mint (12 March 2022)
Since its publication, NFT creator ART101’s BASED VITALIK has proven to be one of the most intriguing collections. After a rough start that saw only 12% of the supply coined on the first day, the team made some drastic changes that saw the remainder of the supply minted in just over 3 minutes. By deciding to reimburse their minters and change the collection to Free-to-Mint, ART101 sacrificed revenue to put their community and collection in the best possible position. This decision has shown to be sound since the collection has maintained a high level of post-mint appeal.
Unfavorable timing
BASED VITALIK was released at an unfavorable time. Several of the most anticipated NFT drops in months began announcing their own releases the next week shortly after disclosing their release date. With significant projects employing far greater promotional campaigns, the release date got abruptly clogged. The BASED VITALIK allowlist and public mints were issued on the same day as Starcatchers and Invisible Friends, with Wonderpals following shortly after. Howlerz and 3Landers were launched the same week, as well as a major Pixelmon announcement.
As a result, ART101 decided to try something new in the field of NFTs. They paid off all of their minters in full and then transitioned to a Free-to-Mint system.
Full refund and transfer to Free-to-Mint
Carty Sewill, an artist, revealed the surprising but joyful shift, stating that ART101 will not abandon their fans.“Art101 would rather have 0 ETH and a minted-out contract than 25 ETH with 15% of the supply minted. So here’s the rub, we’ve refunded all BASΞD VITALIK minters, more than 60,000 USD in total.”
“Art101 doesn’t wanna leave anyone holding bags, especially those of you who came out to support us. We aren’t hype-lords; that’s fine with us. We’re more interested in making NFTs than stacking ETH. And we just returned 65,000 USD to prove it.”
Rather than letting the project die.06 ETH, the developers decided to make it Free-to-Mint and reimburse any collectors who had previously paid to mint. As a result, the project quickly regained pace and piqued the NFT community’s interest.
